sufficient cash to address the nearly $50 million of 11.5% Notes and 7.0% exchangeable senior notes that remain outstanding following this closing. These financing transactions enable the Company to continue to capitalize on its leadership position within its three business segments by significantly reducing the refinancing and disruption risk associated with the 2017 debt maturities. We are very excited about the future of our company and very appreciative of our longtime lenders who have supported us during these transactions.”
On June 10, 2016 (the “Closing Date”), the Company retired approximately $150 million of its outstanding 11.5% Notes in exchange for an aggregate of approximately $105 million of New Notes and Warrants to purchase approximately 11.1 million shares of Common Stock. For each $1,000 principal amount of 11.5% Notes exchanged, the holder received $700 aggregate principal amount of New Notes and Warrants to purchase 74 shares of Common Stock. The retired 11.5% Notes represented approximately 80% of all such notes outstanding at the commencement of the Exchange Offer. Approximately $38.5 million aggregate principal amount of the 11.5% Notes remain outstanding.
Also on the Closing Date, in a related transaction, the Company amended its asset-based revolving credit facility (the “ABL Facility”) to extend the term of the ABL Facility through 2021 and to reduce the commitments thereunder by $50 million to $190 million. The ABL Facility now matures in June 2021, with a springing maturity of May 2019 ahead of the Company’s existing 6.000% senior priority secured notes due August 2019 (the “6.000% Notes”) in the event that more than $10.0 million of the 6.000% Notes remain outstanding at such time.
Also on the Closing Date, in another related transaction, the Company and certain affiliates of or funds managed by Allianz Global Investors U.S. LLC (“Allianz” and, collectively, the “Purchasers”) entered into a secured indenture and note purchase agreement (the “Secured Note Purchase Agreement”) pursuant to which the Company issued new secured notes to the Purchasers in an aggregate principal amount of $50.0 million (the “New Secured Notes”), the proceeds of which have been applied to reduce the outstanding principal amount under the ABL Facility. The New Secured Notes mature in December 2021, with a springing maturity of May 2019 ahead of the Company’s 6.000% Notes. The New Secured Notes